IEA reportedly proposed oil stockpile release of around 300-400mln barrels, according to Bloomberg; decision is possible later on Wednesday, says a source

IEA reportedly proposed oil stockpile release of around 300-400mln barrels, according to Bloomberg; decision is possible later on Wednesday, says a source.

This report from the IEA about a proposed release of 300-400 million barrels from oil stockpiles could significantly impact supply dynamics in the oil market. If executed, this move is likely aimed at moderating prices amid ongoing supply concerns, which may drive WTI prices lower and influence broader commodity markets, as well as inflation expectations.